Loan Programs

Products and Services

Redbud uses a combination of fair loans and individualized financial education to help you build your pathway to personal assets. Our loans are listed below.

Credit Rescue Loan

Our Credit Rescue Loan pays off high-cost credit cards and personal finance loans and refinances the balance into regular payments.

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Payday Rescue Loan

Get out of a cycle of paying fees! Our Payday Rescue Loan fully pays off predatory payday loans and refinances the balance into regular payments.

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Gap Loan

We work with other area organizations to offer Gap Loans to referrals. Gap Loans are $500 loans designed to be an alternative to more costly payday loans.

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Heat Squad Loan

Save money on those costly energy bills by finding where your energy issues are and working out a solution to address those issues.

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HDA Homeowner Repair Loan

If you are an HDA client living in your HDA-built house in need of a repair or non-luxury improvement, you may be eligible for the HDA Homeowner Repair Loan.

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Financial Action Planning

Maybe you want to buy a house, maybe you want to start a business, maybe you want to improve your employment options - whatever it is, you need a plan.

Learn More

Did you know we are CDFI certified?

The CDFI Fund of the US Treasury certified Redbud Financial Alternatives as a CDFI in May 2018. This recognition enables Redbud Financial Alternatives to approach investors with a level of credibility and to access funds at the CDFI Fund.

What is a CDFI?

Community Development Financial Institutions – or CDFIs – are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.

Where do CDFI's invest?

CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions.

How do you become CDFI certified?

CDFIs are certified by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund – known as the CDFI Fund. In order to become a certified CDFI, the financial institution must:

  • Have a primary mission of promoting community development;

  • Provide financial products and services;

  • Serve one or more defined low-income target markets;

  • Maintain accountability to the community it serves; and

  • Be a legal non-governmental entity.

What is the mission of a CDFI certified organization?

All CDFIs share a common mission of serving low-income communities. CDFIs are commonly loan funds, credit unions, community banks, or venture capital funds. Redbud Financial Alternatives is a loan fund.

Certified CDFIs are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.

As a CDFI, Redbud Financial Alternatives puts the community first and values local, economic growth.

How do I apply for a Redbud Financial loan?

1. Figure out if you're eligible for a Redbud loan.

In order to be eligible for a Redbud loan, all of the following statements must be true for you:

  • Any bankruptcies I’ve been involved in were discharged over 2 years ago.
  • I have a verifiable source of income (Social Security/SSI is accepted).
  • I live or work in Breathitt, Knott, Leslie, or Perry County, Kentucky.
  • I am an American citizen living in Kentucky.

​There are no income limits for Redbud’s services. We do look at credit scores but there is no minimum credit score for eligibility.

2. See if there's a loan product to fit your needs.

Redbud focuses on helping people who have big financial and personal asset goals get their finances in order to achieve those goals. At this time we do not do new purchase loans, mortgages, or rental or utility assistance loans.

Check out our products above and find which loan works best for your needs.

3. Apply

Review our products above to determine how to apply. Online applications are available for some products. You may also call to schedule an application meeting.

Call 606-436-0497 and ask for Redbud Financial Alternatives to set up an appointment with one of our Loan Officers.

All applicants will need to submit the following documents with their application:

  • Identification
    • Driver’s License; OR
    • Other state-issued identification; OR
    • Passport
  • Social Security Card
  • Income (including government assistance)
    • Past two months of pay stubs; AND/OR
    • Social Security statement showing amount received monthly

4. Wait to hear if your loan is approved.

Your loan application then goes to our Loan Committee for approval. Depending on your application details, you may have an approval in as little as an hour to as much as 20 days after you submit your signed application.

Once the Loan Committee makes its decision, the Loan Officer will notify you and, if your application IS approved, schedule you to come in to sign for the loan.

​If your application is NOT approved, the Loan Officer will explain why.

5. Sign for your loan.

If your loan IS approved, you need to come in to sign a Promissory Note for your funds to be disbursed or distributed.

During this meeting, together we will create a financial action plan that outlines steps to get you to your financial goals.

​Before you leave, the Loan Officer will make sure you understand all the documents and agreements. This is your financial path – we welcome questions!

6. Start payments on your loan!


​​Now it’s time to make sure you stay on track to paying off your Redbud Financial Alternatives loan and meeting your financial goals.

​Check out our Active Clients page for information on how to make your payments, what to do if you are unable to make a payment, and other information to help you stay on track.